Categories Earnings, LATEST, Retail

Express, Inc. (NYSE: EXPR): Q3 2019 Earnings Snapshot

— Apparel retailer Express, Inc. (NYSE: EXPR) reported an adjusted loss of $0.03 per share for the third quarter of 2019, vs. $0.09 per share loss expected.

— Net loss was $3.1 million, or $0.05 per share, compared to net income of $8.0 million, or $0.11 per share in the third quarter of 2018

— Net sales decreased 5% to $488.5 million from $515.0 million in the year-ago quarter, vs. $483.25 million expected

— Total retail sales decreased to $356.8 million from $388.8 million in the third quarter of 2018; comparable retail sales, including Express stores and e-commerce, decreased 5%

— Repurchased a total of 16.4 million shares for $116.0 million under the buyback program, including 2.8 million shares for $8.7 million in the third quarter

— Expects comparable sales to drop 1% to 3% in the fourth quarter; sees Q4 net earnings in the range of $0.16-$0.21 per share

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